Toro Co. (TTC) Sets New 12-Month High at $90.62

Toro Co. (NYSE:TTC) hit a new 52-week high on Thursday . The company traded as high as $90.62 and last traded at $90.35, with a volume of 178,271 shares changing hands. The stock had previously closed at $89.50.

TTC has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Toro from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Northcoast Research reiterated a “neutral” rating on shares of Toro in a report on Thursday, June 30th. Sidoti lowered shares of Toro from a “buy” rating to a “neutral” rating and set a $98.00 price objective for the company. in a report on Friday, June 10th. Finally, Seaport Global Securities initiated coverage on shares of Toro in a report on Tuesday, May 24th. They set a “neutral” rating and a $87.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of C$91.33.

The company’s 50 day moving average is $87.51 and its 200-day moving average is $81.89. The firm has a market capitalization of $4.98 billion and a price-to-earnings ratio of 22.97.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, May 19th. The company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.10. The firm earned $836.40 million during the quarter, compared to analysts’ expectations of $854 million. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. Equities research analysts expect that Toro Co. will post $4.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 12th. Investors of record on Tuesday, June 21st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, June 17th.

In related news, Director Christopher A. Twomey sold 5,246 shares of the company’s stock in a transaction dated Monday, June 20th. The shares were sold at an average price of C$87.60, for a total value of C$459,549.60. Following the completion of the sale, the director now owns 5,246 shares of the company’s stock, valued at C$459,549.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William E. Brown, Jr. sold 9,932 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of C$87.96, for a total transaction of C$873,618.72. Following the completion of the sale, the vice president now directly owns 100,915 shares of the company’s stock, valued at approximately C$8,876,483.40. The disclosure for this sale can be found here.

Other large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Toro by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,954,420 shares of the company’s stock valued at $288,949,000 after buying an additional 49,619 shares during the period. Wells Fargo & Company MN raised its position in shares of Toro by 1.5% in the fourth quarter. Wells Fargo & Company MN now owns 334,077 shares of the company’s stock valued at $24,412,000 after buying an additional 5,076 shares during the period. Morgan Stanley raised its position in shares of Toro by 108.7% in the fourth quarter. Morgan Stanley now owns 324,205 shares of the company’s stock valued at $23,690,000 after buying an additional 168,869 shares during the period. State of Wisconsin Investment Board raised its position in shares of Toro by 0.5% in the fourth quarter. State of Wisconsin Investment Board now owns 258,335 shares of the company’s stock valued at $18,877,000 after buying an additional 1,237 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Toro by 10.1% in the fourth quarter. California Public Employees Retirement System now owns 179,600 shares of the company’s stock valued at $13,123,000 after buying an additional 16,500 shares during the period.

The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.